Press Releases
MARCUS & MILLICHAP ARRANGES THE SALE OF A MULTI-TENANT MEDICAL OFFICE IN NOVI, MICHIGAN FOR $9.3 MILLION
June 5, 2024MARCUS & MILLICHAP ARRANGES THE SALE OF A MULTI-TENANT MEDICAL OFFICE IN NOVI, MICHIGAN FOR $9.3 MILLION, June 5, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Infinity Medical, a 36,338-square foot two-tenant medical office property located in Novi, MI, according to Steven Ross Chaben, regional manager of the firm’s Detroit office. The asset sold for $9,300,000.
Seth Haron, Ashish Vakhariya, and Darin Gross, investment specialists in Marcus & Millichap’s Detroit office facilitated the transaction on behalf of the buyer and seller, in partnership with Scott Marcus from RSM Development. “The property was fully leased to Rehabilitation Physicians, PC and Ascension Medical Group of Michigan. The asset benefits from being in an affluent market with immediate proximity to a brand-new multi-family development (270 units). The medical center is also conveniently located near multiple hospitals and has ease of access to multiple major freeway systems.” says Seth Haron, First Vice President Investments within the National Healthcare Real Estate Group. “We ended up closing the deal with a Michigan based investment firm, Nova Sky Investments, LLC in 79 days.”
In the past twenty-four months, Seth Haron, Ashish Vakhariya, and Darin Gross have sold or have under contract to sell over $173 Million of medical office and retail investment properties throughout numerous states spanning the Midwest and beyond.
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About Marcus & Millichap (NYSE: MMI)
With nearly 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 7,546 transactions in 2023 with a value of approximately $43.6 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.
